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Caterpillar and Komatsu A Mission Statement Evaluation Caterpillar and Komatsu are two of the largest heavy equipment manufacturers in the world with total revenue of over 291 billion dollars for fiscal year 2001 between the two companies Caterpillar was established in 1925 after Benjamin Holt and Daniel Best merged their two companies both of which had been in business for over 35 years each Komatsu was founded in 1921 when Komatsu Iron Works was spun off as an independent corporation from Takeuchi Mining Industry Ltd Both companies Caterpillar and Komatsu have since established themselves in the market as leaders of heavy equipment manufacturing A review of the websites and mission statements for each company speaks volumes about the company and their philosophy towards doing business Each mission statement was evaluated for the following components as per the UniModule for the course Customers Products or services Markets Technology Concern for survival growth and profitability Philosophy Self-concept Concern for public image and Concern for employees Additionally each mission statement as well as the company web site and company reports was reviewed to determine how the priorities of the stockholders were addressed Caterpillar Caterpillar has both a vision and a mission to drive their company The vision is basically stated Be the global leader in customer value Caterpillar This basic statement drives the four different aspects of the mission and the company as a whole The vision also shows a strong concern for survival and growth with a forward-looking vision to the future In addition a basic vision such as this also drives the philosophy of the company as they strive to be the best in their market The first section of the mission statement is as follows Caterpillar will be the leader in providing the best value in machines engines and support services for customers dedicated to building the worlds infrastructure and developing and transporting its resources We provide the best value to customers italics as included
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